GOLD: New PEA for Lamaque project puts peak production at 143,300 oz/y

QUEBEC – Integra Gold Corp. of Vancouver is hoping to one day produce gold from its Lamaque project in Val d'Or, noting that its project is separate from the adjacent suspended Sigma and Lamaque mines. The latest preliminary economic...

March 11, 2014
by Canadian Mining Journal Editor

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QUEBEC – Integra Gold Corp. of Vancouver is hoping to one day produce gold from its Lamaque project in Val d’Or, noting that its project is separate from the adjacent suspended Sigma and Lamaque mines. The latest preliminary economic assessment the company prepared gives the project a base case pre-tax internal rate of return of 51% and a net present value (5% discount) of $146.0 million.

The company proposes to mine from underground and process the ore at nearby mills. Average annual production is expected to be 112,400 oz of gold with a peak of 143,300 oz in year three of a five year mine life. Pre-production capital costs will be $69.2 million, plus sustaining costs of $66.8 million. Cash and sustaining costs per ounce are pegged at $805.